If the GATT prize is so glittering, why has it been so elusive?
Article Abstract:
The General Agreement on Tariffs and Trade promises to end the recession plaguing the western world by stimulating international trade. One study estimates that the planned world trade reform will pump $118 billion annually into the world economy, with the US reaping $35 billion, Japan and Europe $28 billion each, while the remaining $27 billion will go to the rest of the world. Despite the considerable potential benefits of GATT, an agreement still has not been reached even after the original four-year timescale had elapsed. One reason for this is the ambitiousness of the project. The Uruguay Round, the eight and latest round of talks within six years, has been the most ambitious of all. In addition to previous GATT accords, it addressed new trading areas and other issues exempt from GATT rules. Another reason for the seeming elusiveness of the agreement's rewards is the length of time it would take for global gains to become apparent.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1993
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Waiting for the gold rush
Article Abstract:
Despite immense potential for growth, South Africa is wanting in investments due to its political and social climate. A combination of economic recession, drought, sanctions and labor unrest have made foreigners wary of investing in such an unstable environment which ironically, may be improved by badly-needed economic growth. South Africa's infrastructure, mineral wealth and business sophistication are a good economic base, but structural bottlenecks left over from apartheid rule require more than just political solutions. An overexpanded bureacracy, excessive taxation, export dependency, industrial underdevelopment and oligopolistic control of the economy are just some of the barriers to growth. Walking the tightrope between revolutionary principles and economic expediency, the African National Congress is in favor of investment guidelines to protect long-term national goals.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1992
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